LMA - Climate Risk Working group

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Climate Risk Working Group

The Climate Risk Working Group plays a key role in supporting the Lloyd’s market in navigating the evolving landscape of climate-related risks. Reporting to the LMA Sustainability Committee, this group focuses on the risks associated with climate transition and the regulatory developments around climate risk management and disclosure, ensuring the market is well-equipped to adapt to a rapidly changing risk environment.

Through these initiatives, the Climate Risk Working Group, in collaboration with the LMA Sustainability Committee, helps to shape industry best practices and support the Lloyd’s market in managing the risks presented by climate change.

Committees » Risk

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Committee

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Alex Koukoudis

Senior Executive, Finance and Risk

Committee secretary

Key issues covered

Transition risks

Assessing the impact of technological advancements and industry shifts on risk exposure. This includes evaluating how changes such as new fuel sources and building materials affect insurance wordings, reserving, and capital models.

Litigation risk

Collaborating with the LMA’s Environmental and Climate Litigation Committee (ECLIC) and Lloyd’s to translate horizon-scanning insights shared into risk exposure assessments. This ensures the market is prepared for emerging climate-related litigation trends and potential liabilities.

Regulatory developments

Enhancing market awareness of upcoming climate regulatory and disclosure requirements, while developing best practice frameworks for climate scenario analysis, reporting, and disclosures.

Committee insights

Risk and Sustainability Quarterly Update

Replay – UK Sustainability Reporting Standards & Transition Plan Implementation Routes Consultations

Environmental and Climate Change Litigation newsletter, August 2025

Upcoming events

For events hosted online, joining instructions will be emailed to all registered attendees closer to the date of the event no later than 24 hours prior to commencement.

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California Fair Claims Settlement Practices Regulations Webinar, November

The California Fair Claims Settlement Practices Regulations apply to all insurance practitioners who handle California claims, whether business is admitted or non-admitted or on a surplus lines basis.

Emerging Professionals Claims Community Presents: An Introduction to Cyber Claims

In partnership with the LMA Claims Sector Groups, the Emerging Professionals Claims Community is hosting a series of educational sessions exploring different classes of business. Each session introduces the fundamentals of claims handling and uses real-world examples to illustrate key coverage and liability considerations.

Brazil Insurance Law – Clauses and Guidance for Market Use

This session will build on the Brazilian briefing held earlier this year which introduced the key issues arising from the new insurance law coming into effect in December 2025.